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a competitive tax system and i think our slow going economy under president obama says we don't. >> the new york times though makes a mention of, just a sort of a passing mention in this massive article, by the way, about the need to cut spending like one or two sentences about the need-- >> and i think that milton freedman brought us, that spending is really the tax bill. it's just delayed. so, every toll the government spends eventually they're going to have to take it from someone, either in taxes or in inflation, so, this is why you're seeing a lack of business investment is because this massive spending and huge debt tells every business owner, every investor, big tax are are coming to eventually pay for this. >> what was the point of the piece? i know there's hand wringing out there, maybe the folks on the right say under obama our taxes have gone up and we may more in taxes than we've ever paid and attempt to say, we're not-- >> this is long-term by the president and his allies to create an intellectual justification to raise taxes and in this case, they use the reagan years and often wen
passed a tax cut extension program that the obama administration wants and it would essentially lay the groundwork for getting a quick fix to this fiscal cliff. they could then move on to the spending cuts portion. >> sam stein, "huffington post," good to have you with us. >> go giants. >> stop that. >> had to do that. >> giants are okay. i like the packers better. remember to answer tonight's question question at the bottom of the screen. share your thoughts on twitter @edshow and on facebook. we always want to know what you think. >>> coming up, senate minority leader mitch mcconnell says democrats need to raise the eligibility age for medicare? obama care architect dr. zeke manual joins me to talk about what will happen if the parties don't come to a deal. want to try to crack it? yeah, that's the way to do it! now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with health care professionals who understand the difference that quality time with our members can make... t
that that has meaning anymore. in 2001 and 2003 we did do some dramatic changes to tax policy. president obama extended all of those changes in 2010. that's the law of the land still today. tax policy has been exactly the same over this continuum. what has changed, mr. speaker, what has changed is the spending. the reason deficits have grown not one, not two, not three but almost four times larger than the previous record deficit in american history is not because tax policy has changed, it hasn't. it's because federal spending policy has changed. and that's what we have to get our arms around here in this body. what i show going forward, mr. speaker, put a little square around the annual budget deficits that have been run during the first four years of the obama administration, but i also project what the congressional budget office believes, that's a nonpartisan budget planning group we have here on capitol hill, what they believe is in store for us in the future if we continue under current policy. -h tsh-that's trillion dollar deficits going out for years to come. the problem is not tax po
taxes to that. tea party 2 will dwarf tea party 1 if obama pushes us off the cliff. >> so basically what grover nor 0 quist is saying there to the members of the tea party who were elected, have been elected, we'll take everybody who is against us into a primary on the right on the republican side. >> right. >> and so the threat has been issued already. >> that was the point. >> this is like political terrorism. >> well, it's certainly a clear bargaining position. i remember talking to a longtime member of the house running for the senate we were talking about something else, and i said is it worse than when you came in, which was in the late '80s? and he said the central difference is in the caucus, the republican kcaucus. the fear is not a democratic challenge, it's a primary challenge. it's the first time i heard the verb to be primaried. you can ask senator lugar about this. it's real. it's becoming increasingly difficult to cast one or two compromise votes even early on because of this he cecho chambe that kicks in and, to me, what's so scary about it is the president's second term
obama's proposal calls for $1.6 trillion in new tax revenue. $50 billion for new stimulus spending. and about $400 billion in entitlement cuts. republicans say, the president's proposal's nothing but a political stunt. here is boehner. >> the white house spends three weeks trying to develop a proposal and they send one up here that calls for $1.6 trillion in new taxes, calls for a little -- not even $400 billion in cuts, and they want to have this extra spending that is actually greater than the amount they're willing to cut. i mean, it is -- it was not a serious proposal. and so right now we're almost nowhere. >> what we will do is continue to take this as a serious matter. this is not a game. we're not interested in playing rope adope. we're interested in trying to solve the problem for the american people so that we don't see taxes go up on anybody, so that we can engage in tax reform, get this economy going again. we're not playing a game. we're being serious. that offer yesterday was simply not serious. >> oh, boy. scrooge, rope-a-dope. where does that leave us after months of
're hearing the obama administration released a budget that includes over a trillion dollars worth of tax hikes just as we inch toward the fiscal cliff with no compromise in sight. peter doocy is at the white house with the latest. peter? >> and the two numbers you need to know to best understand the president's proposal to avoid the fiscal cliff are 1.6 and 400. as in $1.6 trillion in new taxes now and $400 billion in spending cuts later. the white house also wants a new multi-year stimulus plan that's going to cost at least $50 billion in fiscal year 2013 alone and they want the ability to raise the debt ceiling on their own unless two-thirds of congress votes against it. but republican leaders in congress are not happy with this proposal which was presented to them yesterday by treasury secretary timothy geithner. >> i'm disappointed in where we are and disappointed in what's happened over the last couple of weeks. going over the fiscal cliff is serious business and i'm here seriously trying to resolve it and i would hope
for one thing statistically that held them. they are the low tax party. the other guys want to tax to match their reckless spending. if they give it up now in return for nothing, obama wins and high wins big. i understand why the democrats are doing this. they imagine that republicans have no bargaining power today . i say that it is true if republicans resist they will take the blame and that will help democrats in the congress. but obama's never running again. he doesn't care who gets the blame. he is the president and a blame duck. he wants a successful second term. if it starts by going over the cliff it starts with second recession and wrecked second term. >> steve: that's why the president said i would be willing to do anything to get a deal. >> gretchen: it is not a deal. this is what the american public needs to know. this is raising taxos successful people and reducing taxes on the middle class. that is not a deal folks. they will waste your taxpayer dollars and overspend and continue to raise yourr deficit unbelievable numbers that you can't find on yourr calculator. this
Search Results 0 to 6 of about 7